In Mod Advisor, the Manual Premium is located on the Policy Screen and represents the current estimated workers' compensation premium before any experience mod factor, credits, debits, or discounts are applied.
For many of the reports where the 1, 2, 3 year premium impact is calculated it references the Manual Premium field. If the Manual Premium value is $0, then the reports will show a $0 value for the premium impact.
The report calculations for 1, 2, 3 year premium impact are based on Manual Premium x the Claim Mod Impact. Then this is multiplied by the number of years.
Mod Advisor will automatically calculate the manual premium from the most recent policy periods if a value exists in the policy premium. For NCCI worksheets, Mod Advisor will extract the Subject Premium from the worksheet and import that into the policy premium field, which may or may not be the exact premium charged to the business. Mod Advisor will automatically combine all the states and most recent policy period premiums and sum them to get the auto calculated manual premium.
You are able to revise, delete, or update the manual premium at any time.
Here is a how to video.